• Wormhole has launched its Cosmos-powered appchain, Gateway.
• Gateway allows for access to unified liquidity in the Cosmos ecosystem and is compatible with IBC.
• Security was improved with Governor, a module designed to limit cross-chain contagion in the event of a hack and Automatic Relayers.
Wormhole Launches Gateway AppChain
Wormhole, a decentralized messaging protocol has released its application-specific blockchain called Wormhole Gateway. The appchain is powered by the Cosmos SDK and aims at broadening access and liquidity within the blockchain platform’s ecosystem.
Gateway Connects 23 Blockchains
Gateway allows Wormhole to connect 23+ blockchains across six runtimes to Cosmos through a liquidity router that allows users to bridge funds to any appchain within the Cosmos ecosystem at no extra bridging fees.
Governor Improves Security
Security is key to Wormhole given the impact of a February 2022 hack on its bridge which saw 120,000 wETH worth $325 million stolen from it. To enhance security across the Cosmos ecosystem, Wormhole introduced Governor, a module designed to limit cross-chain contagion in the event of a hack.
Automatic Relayers Enhances Functionality
In June, Wormhole introduced Automatic Relayers which is a decentralised network of relayers that allow for cross-chain messaging without having to develop or manage an off-chain component. This allowed developers to deploy fully functional dApps via single solidity contract.
Conclusion
Overall, Wormhole’s new Gateway application chain will improve access and liquidity within its own ecosystem while also allowing for increased security measures against potential hacks and improved functionality with Automatic Relayers.